Oliver Stich | CEO | BizzCtrl Ltd
Oliver Stich is the CEO of BizzCtrl Ltd, the innovative company behind GetPaid. GetPaid is a game-changing platform connected to the leading accounting software Xero and several Debt Collection Agencies (DCAs). It allows clients to collect unpaid invoices in under a minute, a process that traditionally took around four weeks and was costly for small businesses. GetPaid eliminates the need for small businesses to search for DCAs and negotiate fees, providing a high-standard service that was once only available to large corporations. This unique approach means BizzCtrl currently has no competition, as the market still operates in a traditional manner. At EliteX, we are proud to have Oliver Stich as part of Elite League of Business Leaders, 2024.
Oliver’s extensive background spans a 30-year career with Siemens, where he held various roles in telecommunications, outsourcing, and healthcare. He gained experience in finance, manufacturing, R&D, sales, and service, with responsibilities for international businesses in Latin America and Europe. For the last ten years at Siemens, he led internal consultancy and post-merger integration for Siemens Healthineers, focusing on process reengineering and PMI implementation. His teams became twice the divisional cash champion globally. Four years ago, recognizing that UK SMEs write off £6 billion annually, of which 70% could be recoverable with the right knowledge, Oliver joined a group of IT and collection specialists. Together, they founded BizzCtrl Ltd, launching their first app, GetPaid, which has been widely praised by customers for its convenience.
“With a positive and confident attitude, leading a team and achieving success becomes much more manageable.” – Oliver Stich’s advice to aspiring business leaders.
The primary focus of BizzCtrl is to give SMEs using accounting platforms like Xero access to a choice of DCAs in a fully automated and cloud-based manner. The traditional process of finding a DCA, sending invoice samples, negotiating fees, onboarding, and maintaining contact is automated and preconfigured by GetPaid, allowing SMEs to instruct a DCA in less than a minute. With successful market share targets in the UK, BizzCtrl plans to expand their program into Europe. Oliver’s leadership role at BizzCtrl is a natural progression from his various leadership roles at Siemens, where he managed teams ranging from a few to several hundred direct reports and thousands indirectly. In a small organization like BizzCtrl, he emphasizes the importance of everyone applying their skills and experience effectively. Major decisions are made collectively by the owners, ensuring a clear understanding of their main tasks.
One of the most significant challenges Oliver faced in his career was dealing with a cultural misfit with colleagues. When values like trust and honesty are misaligned, collaboration becomes nearly impossible. Oliver emphasizes the importance of open communication about these issues but also staying true to one’s beliefs. Sometimes, this means someone has to leave the organization, and sometimes it means he had to leave. Recognizing and acting on this difference is crucial. Oliver Stich’s journey from Siemens to BizzCtrl showcases his commitment to innovation and leadership in the industry, providing SMEs with cutting-edge solutions to long-standing problems.
Oliver Stich has many proud moments in his business journey. One significant moment was when a serial entrepreneur, involved in several startups and now successful businesses, praised GetPaid, saying, “This is good; you are really solving a big problem in the market.” This external validation confirmed that BizzCtrl was on the right track, making Oliver proud of their accomplishments. To keep BizzCtrl at the forefront of innovation and industry trends, Oliver and his partner leverage their vast experience in tech and business. They apply successful approaches from other industries to their own, adhere to strict design principles, and ensure every step adds value to the customer. They test new ideas with clients and partners before development, quickly implementing them based on positive feedback using their external development team.
Oliver’s leadership style is collaborative and people-oriented. Early in his career, impatience and fear of losing control sometimes hindered his effectiveness. Over the years, he has become more patient, understanding that with the right team and giving them space, things will come together. He believes that a happier team achieves better results. Building and maintaining a strong company culture at BizzCtrl is based on two main elements: meeting client expectations and maintaining ethical behavior. Trust and ethical conduct are paramount, especially in their industry dealing with clients’ money and reputations. Oliver ensures that these values are applied in everything they do, giving clients confidence in their service.
“A happier team achieves better results.” – Oliver Stich on his collaborative leadership style.
A difficult business decision Oliver had to make was changing their marketing approach. Initially focused on factual problem-solving, they failed to engage clients. After discussions with a marketing agency, they shifted to addressing emotional problems, such as promoting a stress-free life by getting paid. This change in strategy led to increased client engagement and orders. Looking to the future, BizzCtrl is prepared for volume and fully scalable. Their goal is to expand by spreading the word and onboarding indirect partners like bookkeepers, accountancy firms, and industry bodies. They plan to release new interfaces to other accounting packages and develop exciting new features. Long-term, they aim to expand into markets with established accounting packages, potentially partnering with others for this journey.
For Oliver, managing work-life balance is about flexibility and loving what he does. He enjoys his work, family time, dog walks, and golf. He advises aspiring business leaders to find what they love, work with people who share their values, and maintain flexibility in managing their responsibilities. Throughout his career, Oliver had a mentor who significantly influenced him by giving him freedom in decision-making while preventing major mistakes through discussions. This mentor encouraged Oliver to take on more responsibility, eventually leading to his role as his successor. Even after 30 years, they still discuss ideas, which continues to be valuable for Oliver.
Oliver sees the biggest opportunity in the industry as its outdated nature, allowing BizzCtrl to introduce modern, efficient solutions. The biggest threat is that many SMEs face cash problems too late, leading to business closures. Around 25,000-30,000 SMEs shut down annually due to cash issues, a number that is increasing.
BizzCtrl approaches corporate social responsibility and sustainability by aligning their business practices with their values. They choose partners who share their values and maintain compliance to protect their clients and business. As a cloud-based business, they minimize energy use and ensure customer safety through industry standards and external testing. Oliver’s key advice for aspiring business leaders is to engage in something they truly love and believe in, work with people who share their values, and ignore naysayers. With a positive and confident attitude, leading a team and achieving success becomes much more manageable.
“This is good; you are really solving a big problem in the market.” – A serial entrepreneur validating GetPaid’s impact.
